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the fdic in the room, tim geithner, chairman ben bernanke. we did not at that point need tarp. we were asked to, because we were told incorrectly, if nine banks take this tarp, we can stop the sysm from going down. we did not borrow from the federal reserve except when they ask us to. they said, please use these facilities. it makes it easier. we were not bailed out by aig. we may be would of had a direct loss of $1 billion or $2 billion if aig went down. >> you have a difference of opinion of many analyy s who felt the aig bailout did benefit you enormously. i'm not going into this. this is not your hearing. i'm asking you to respond to questions. i only have five minutes. >> that was oregon democratic senator questioning jamie dimon from jpmorgan. the significance? >> one thing that is interesting is this is what the about inspector calls -- calls for original sin. the moment in time went right after tarp was passed and the government elected to call companies that were unhealthy and insolvent, healthy and solvent. when they scrapped the plan to buy out troubled assets, tarp
the fdic in the room, tim geithner, chairman ben bernanke. we did not at that point need tarp. we were asked to, because we were told incorrectly, if nine banks take this tarp, we can stop the sysm from going down. we did not borrow from the federal reserve except when they ask us to. they said, please use these facilities. it makes it easier. we were not bailed out by aig. we may be would of had a direct loss of $1 billion or $2 billion if aig went down. >> you have a difference of...
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>> now -- now they say tim geithner will go to the head of the federal reserve. [laughter] i think he has had his do but it is a close relationship. it is with the entire board and not just the chairman. on lot of people have known them for long time. lori: who will handicap the next fed chief? >> double not speculate. >> you were working with a t.a.r.p. with we heard hank greenberg would sue the government and then the shea said we will not be involved. what is your thoughts? >> when i saw the headline i thought it was a satire peace. we must ensure that they never bailout again. we may have lost an opportunity. >> about the ag current board? >> with old fifth amendment seizure. >> they could say we do not want that environment. lori: we appreciate your insight. much more with the jack lew nomination with the the "a team". >> state of emergency new york city lights the flu outbreak. the scary numbers are ahead. florida has its own plan to deal with the snakes. the python challenge. wildly popular created by the $1 billion industry better graphically violent vide
>> now -- now they say tim geithner will go to the head of the federal reserve. [laughter] i think he has had his do but it is a close relationship. it is with the entire board and not just the chairman. on lot of people have known them for long time. lori: who will handicap the next fed chief? >> double not speculate. >> you were working with a t.a.r.p. with we heard hank greenberg would sue the government and then the shea said we will not be involved. what is your thoughts?...
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c-span: what is tim geithner's motive in this? is not going to continue secretary of treasury no matter what. >> guest: i don't want to speculate on his motives, but i can comment on his ideology and it reflects the wall street ideology, the sense that what is best for the banks is best for the country. so when banks told the more transparency would be dangerous, i heard things like an account for how they spent the money could be easy to kane can be dangerous, taken the banking system. he accepted this was his from wall street without questioning them. i was trying to get them counter arguments only have examples of how these things could get done. it's completely invalid in a pseudoscience in the vacant leaders in treasury. if you're not among those bankers, you really have no business having an opinion. tenacity is herb allison's successor. so he worked with her issa chief counsel for t.a.r.p. and when herb allison step down in early october 2010, he took over. c-span: here's a protocol issue you've read about in your book betw
c-span: what is tim geithner's motive in this? is not going to continue secretary of treasury no matter what. >> guest: i don't want to speculate on his motives, but i can comment on his ideology and it reflects the wall street ideology, the sense that what is best for the banks is best for the country. so when banks told the more transparency would be dangerous, i heard things like an account for how they spent the money could be easy to kane can be dangerous, taken the banking system....
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he praised outgoing secretary tim geithner. if confirmed, he would take over the treasury department's before the white house and congress debates the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states accompanied by some of tim geithner and sap jack lew. >> men, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first to my cabinet. we were barely two months into the financial crisis, the stock market have quivered, the housing market had cratered as well, a bank after bank was on the verge of collapse, and worst of all, more than 800,000 americans would lose their jobs in just a bad month. and the bottom was not yet in sight. i cannot blame tim when he told me he was not the right guy for the job. [laughter] extensivet tim's experience with economic policy made him qualified and i knew he could hit the ground running. as chairman of the new york federal reserve, he had just spent several sleepless and chaotic weeks
he praised outgoing secretary tim geithner. if confirmed, he would take over the treasury department's before the white house and congress debates the debt ceiling. this is 15 minutes. >> ladies and gentlemen, the president of the united states accompanied by some of tim geithner and sap jack lew. >> men, everybody, please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first to my cabinet. we were barely two months into the...
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few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol, to help convince limb it stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families. in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle class and offer working folks new pathways to rise into the middle class, our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. so i understand that tim is ready for a break. obviously we're sad to see him go. but i cannot think of a better person to continue tim's work at treasury than jack lew. this is bitter sweet, not only because tim is leaving. but also because jack's been my chief of staff for the last yea
few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago, i had to personally get on my knees with carol, to help convince limb it stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families. in serving the country. the fact is, while a lot of work remains, especially to rebuild a strong middle...
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both tim geithner and jack lew speaking, tim geithner never i think his default position is his face it looks he never looks happy to be there. he may have been but he didn't look that way. jack lew i think got a very nice description from the president, low-key, someone that gets things done and what we hear about him. >> well, thanks to you, chris, our great thanks to ruth marcus and susan paige and elizabeth bue-miller. it was fun today. that does it for this edition of "andrea mitchell reports." tamron hall is here with a look at the next hour. >> we are following several big stories. coming up, the minister set to deliver the benediction at the president's inauguration withdraws after comments in the '90s of gay rights and referred to as the homosexual lifestyle. the inaugural committee said it was unaware of the minister's past. right now, vice president biden is meeting with the nra. the vice president says tuesday is the day, we can mark our calendars, he'll deliver the task force recommendations to the president. what might we see? >>> charlie rangel has harsh words for the
both tim geithner and jack lew speaking, tim geithner never i think his default position is his face it looks he never looks happy to be there. he may have been but he didn't look that way. jack lew i think got a very nice description from the president, low-key, someone that gets things done and what we hear about him. >> well, thanks to you, chris, our great thanks to ruth marcus and susan paige and elizabeth bue-miller. it was fun today. that does it for this edition of "andrea...
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are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director, first under president clinton, then under president obama, before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents ensiled in me and i look forward to continuing with the challenges ahead. >> brown: lew, and other top administration officials, face the immediate task of negotiating with republicans o
are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social...
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tim geithner's legacy, he's going to be remembered the architect of too bid big to fail. he had the opportunity to go in and correct a lot of problems, restore fiscal honesty and transparency in the system and instead, they papered over the problem and threw a lot of money at corrupt failing institutions and they created these sort of monsters that now we have to publicly back even when they're laundering money for terrorists and drug dealers. >> you write an article like this, it give s youstrange bedfellows and puts you into bed with a lot of conservatives who say we shouldn't have had the bailout. >> i believe it should have been done differently with conditions. it should have been done in a way that encouraged rans parency instead of papering over problems. but i do believe this is an inherently conservative issue. i think there should be some linkage between liberals and conservatives because it's not partisan issue at all. >> it's a good read. matt's article called "secrets and lies of the bailout," a contributing editor with rolling stone. coming up, this hi-tech
tim geithner's legacy, he's going to be remembered the architect of too bid big to fail. he had the opportunity to go in and correct a lot of problems, restore fiscal honesty and transparency in the system and instead, they papered over the problem and threw a lot of money at corrupt failing institutions and they created these sort of monsters that now we have to publicly back even when they're laundering money for terrorists and drug dealers. >> you write an article like this, it give s...
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are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social security and tax reform. later, he served two stints as the country's budget director first under president clinton, then under president obama before becoming white house chief of staff. today, in the east room of the white house, the nominee voiced his gratitude. >> thank you mr. president for your trust confidence and friendship. serving in your administration has allowed me to live out those values my parents ensiled in me and i look forward to continuing with the challenges ahead. >> brown: lew, and other top administration officials, face the immediate task of negotiating with republicans on
are written tim geithner's going to go down as one of our finest secretaries of the treasury. our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot of credit for that. >> brown: at 57, lew is already a 30-year veteran of washington. he was a principal domestic policy advisor to house speaker tip o'neill in the 1980's, and negotiated with the reagan white house on social...
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all signs point to president obama nominating him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money might look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry about seeing jack lew's wacky signature on our money. they're saying he doesn't have to worry about changing the signature so it looks good on the money because he, jack lew, will never be the guy who has to actually sign the money. he will never be treasury secretary. politico.com today to be, quote, scoffing at the notion of jack lew as treasury secretary. mitch mcconnell is said to have been irked by mr. lew in the past. republican senator from nebraska, mike johanns called lew a controversial pick. the reason he is controversial is, quote, i think there are nick policies in
all signs point to president obama nominating him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money might look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry...
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are acting as if tim geithner had the final say on all of this. they keep bringing up the $50,000 he owed in taxes is are redundant and old. was talk about some of the things he did right. it is so negative it. that is what is bringing this country down more than anything is the constant negative attitude. host: charleston, west virginia, republican line. caller: good morning. how are you? mr. geiger's legacy is that he was part of a team who came into office when this country was heading toward a fiscal chasm, an abyss, not just a cliff. he and his team pushed the gas pedal to the floor. i had a real opportunity to do something positive in this country and allow people to keep more of what they earn at. they did exactly the opposite. i cannot believe that these people who are doing this to our country are so stupid. they just do not know any better. i think they know exactly what they are doing. at least 51% of the american people voted not once, but twice to keep that gas pedal pushed firmly to the floor so that we go directly over the chasm and
are acting as if tim geithner had the final say on all of this. they keep bringing up the $50,000 he owed in taxes is are redundant and old. was talk about some of the things he did right. it is so negative it. that is what is bringing this country down more than anything is the constant negative attitude. host: charleston, west virginia, republican line. caller: good morning. how are you? mr. geiger's legacy is that he was part of a team who came into office when this country was heading...
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in tim geithner's america. as he prepares to exit the big question that hangs over the entire legacy of the obama r. oeg administration, is that a good thing? joining me is vice president at merryll lynch and deutsche bank and now a wall street activist. and a former special inspector general in charge of overseeing the troubled asset relief program. great to you have here. >> thank you. >> geithner, one of the things i think is really interesting about geithner is that he -- you would not, if you were in the betting market at the beginning of the obama first term, wount stha guy is going to be the guy who makes economic policy, this guy is going to be influential and go in the history books as one of america's most influential and important for better or ill treasury secretaries because he got a really bad start to the job. he stumbled out of the gate. he gave press conference that's were panned. he was not particularly close to barack obama. yet he managed to have by all accounts across the spectrum, tremendo
in tim geithner's america. as he prepares to exit the big question that hangs over the entire legacy of the obama r. oeg administration, is that a good thing? joining me is vice president at merryll lynch and deutsche bank and now a wall street activist. and a former special inspector general in charge of overseeing the troubled asset relief program. great to you have here. >> thank you. >> geithner, one of the things i think is really interesting about geithner is that he -- you...
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thanking tim geithner there. lori: we also have rich edson i believe on site who will check in a little bit later throughout the afternoon. we can't to keep you aprized of other day's headlines. a rise in jobless claims. that of course raising new questions about when the job market will show real strong improvement. ftn financial economist lindsay piegza breaks it down with tracy byrnes and ashley webster next here on fox business. don't miss it ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. ashley: good afternoon, everyone, i'm ashley webster. tracy: and i'm tracy byrnes. we have some breaking news. president obama task jack lew to be the new chief of treasury just in time for a critical battle over the national debt. he has one vocal critic in the senate
thanking tim geithner there. lori: we also have rich edson i believe on site who will check in a little bit later throughout the afternoon. we can't to keep you aprized of other day's headlines. a rise in jobless claims. that of course raising new questions about when the job market will show real strong improvement. ftn financial economist lindsay piegza breaks it down with tracy byrnes and ashley webster next here on fox business. don't miss it ♪ [ male announcer ] how do you make 70,000...
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he went with a guy who was to the left of tim geithner. he is there to execute the obama tax hike don't reform entitlements policy. >> that is a greaeat point. >> he is there to stabilize the debt. >> this is not a centerist appointment. th mr. geithner, i believe he was a centerist. >> why is he a financial market guy? >> he grew up as a banker. what about larry fink, he is a democrat and well respected by everyone. >> i have a list here. >> jamie diamond. ken chenault. >> you need someone who understands the fiscal books at a time like this. >> we disagree. we don't need someone who understands the books, we need someone who understands where we should go and where those books should take us. and i don't think he does. i don't think they understand fiscal policy better than jack lou. he got you guys a surplus back in the 90s. >> all established people in financial markets all distinguished people who command the respect of not only around here in the new york area but the whole g-20. this is going to be a bad mistake. it may be the haegl
he went with a guy who was to the left of tim geithner. he is there to execute the obama tax hike don't reform entitlements policy. >> that is a greaeat point. >> he is there to stabilize the debt. >> this is not a centerist appointment. th mr. geithner, i believe he was a centerist. >> why is he a financial market guy? >> he grew up as a banker. what about larry fink, he is a democrat and well respected by everyone. >> i have a list here. >> jamie...
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few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago -- [ laughter ] >> i had to personally get on my knees with carol to help convince him to stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is while a lot of work remains, especially to rebuild a strong middle class and offer working folks new pathways to rise into the middle class, our economy is better positioned for tomorrow than most of those other countries hit by the financial crisis. the tough decisions tim made and carried out deserve a lot credit for that. so i understand that tim is ready for a break. obviously we're sad to see him go. but i cannot think of a better person to continue tim's work at treasury than jack lew. now this is bittersweet not only because tim's leaving, but also because jack's been my chief of staff for
few embody that ideal better than tim geithner. that's why when tim was thinking about leaving a couple of years ago -- [ laughter ] >> i had to personally get on my knees with carol to help convince him to stay on a little bit longer. and i could not be more grateful to carol and the entire geithner family for allowing him to make the sacrifices that so many of our cabinet members ask of their families in serving the country. the fact is while a lot of work remains, especially to rebuild...
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tim geithner is in your book, nor treasury secretary. was his relationship to all this? >> guest: tim geithner is the president of the new york fed during the years when regulation became extremely lax in this country for financial institutions and particularly new york, citibank was the purview of the new york fed and obviously not paying attention because citibank became one of the biggest nightmares of the bailout brigade. so tim geithner was really at the creation of this kind of belief that banks could set their own capital standards, which are riveted for a wonderful thing that spreads risk and financial innovation was not to be stopped. there's all this kind of mindset really came down from greenspan i think, who said it really was anti-regulation, not interested in making sure that financial products that were sold to people were not going to go up on them five minutes later. and so, there was a tone that bankers would never do anything so silly as to take the risks that would load themselves up. that is greenspan's notion in his later apologized for saying you j
tim geithner is in your book, nor treasury secretary. was his relationship to all this? >> guest: tim geithner is the president of the new york fed during the years when regulation became extremely lax in this country for financial institutions and particularly new york, citibank was the purview of the new york fed and obviously not paying attention because citibank became one of the biggest nightmares of the bailout brigade. so tim geithner was really at the creation of this kind of...
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tim geithner said he was forced to change his signature before it was fit to print. richard wolfe, when i was chief of staff at the senate finance committee, we of course had to confirm treasury secretary. and i had when i was all done -- this thing was run through the committee. and the question is when exactly is it going to be voted on, on the floor? because it was the floor vote, absolutely guaranteed. the matter of a crowded calendar. it is the floor vote that really does make you treasury secretary. and the guy was in there, doing the job. i kept getting the calls, when is it going to happen. i finally said, it is going to happen, don't worry. he said he wants to sign the money. it is a big deal, signing that money is a big deal. >> for every school child -- >> and -- it is going to come any day now. and you're appointed -- >> because i'm not going to go for senate. >> really? did you break that news? >> yeah, i just made that announcement. >> so you know, washington still in this day and age, 2013, still has the fetish of the signature. and it is not just the
tim geithner said he was forced to change his signature before it was fit to print. richard wolfe, when i was chief of staff at the senate finance committee, we of course had to confirm treasury secretary. and i had when i was all done -- this thing was run through the committee. and the question is when exactly is it going to be voted on, on the floor? because it was the floor vote, absolutely guaranteed. the matter of a crowded calendar. it is the floor vote that really does make you treasury...
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you recently did, as you know that great interview with tim geithner right here on the "closing bell." how well do you know lew? >> not as well. he was at omb for a brief time, a couple years in this administration, his second go-round there. look, we're learning more about him, and i don't think there's very much mystery here. he would be picked for the job because he's a budget expert, and that also he's a loyalist inside the obama administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there
you recently did, as you know that great interview with tim geithner right here on the "closing bell." how well do you know lew? >> not as well. he was at omb for a brief time, a couple years in this administration, his second go-round there. look, we're learning more about him, and i don't think there's very much mystery here. he would be picked for the job because he's a budget expert, and that also he's a loyalist inside the obama administration and in a place that values...
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few embody that ideal better than tim geithner. >> tim geithner looks like he is about to explode with laughter listening to the president say that but the phrase is no peacocks, no jerks, no whiners. i mean jerks and whiners, we all get that. but the peacocks part here i think is a term of art. i don't think they mean peacocks in a generic way, i think they mean in a way that is specific to the treasury. here is what i mean. peacocks as birds are strutters, right? they puff their chests out. they like making a big show of their big fantastic feathers, and no offense to our corporate overlords, i'm aware that you can see one particular tiny little peacock often at the top of our screen right now while i am talking. in politics, the peacock metaphor means you are talking about somebody who struts and doesn't deserve to be strutting. someone who talks the talk, but doesn't really walk the walk. and in the case of the treasury in particular, the president's no peacocks line was put into further context when he went on in his remarks to introduce the new treasury secretary nominee just a f
few embody that ideal better than tim geithner. >> tim geithner looks like he is about to explode with laughter listening to the president say that but the phrase is no peacocks, no jerks, no whiners. i mean jerks and whiners, we all get that. but the peacocks part here i think is a term of art. i don't think they mean peacocks in a generic way, i think they mean in a way that is specific to the treasury. here is what i mean. peacocks as birds are strutters, right? they puff their chests...
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and he doesn't have the experience in financial regulation that tim geithner brought to the job having head of the federal reserve bank of new york during the financial crisis. but jack lew is expected to be announced today. the pecked speculation about his replacement as white house chief of staff has centered in the last 24 hours around dennis mcdonna. sources tell me that dennis mcdonough is the chief candidate. ron biden has already been a contender. wool see whether the president pairs the announcement of a new chief of staff with jack lew's appointment today. >> so jack lew seems to have the nomination locked up. danny krugman is expected to be looked go ahead at for treasury secretary. >>> still, that's a subject for great discussion. now let's bring you up to speed with the action on today's global markets report. will i sixuan is with us. hi, sixuan. >> thank you, ross. that surprising number in trade data has helped beat sentiment in asia. the sensex index had a fresh 19-month high in trade before closing up .6%. airline stocks on upgrades. the shanghai composite finished in
and he doesn't have the experience in financial regulation that tim geithner brought to the job having head of the federal reserve bank of new york during the financial crisis. but jack lew is expected to be announced today. the pecked speculation about his replacement as white house chief of staff has centered in the last 24 hours around dennis mcdonna. sources tell me that dennis mcdonough is the chief candidate. ron biden has already been a contender. wool see whether the president pairs the...
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on this bill you have tim geithner's signature because he's the treasury secretary. if lew is the next treasury secretary? it's over one document after another. you can get a pretty close-up look at it. there it is. image that on your dollar bills. that's how it would look like. tim geithner decided to clean it up before he came up with his signature. >> make it look more official. looks like an 8th grade girl's signature. >> makes a lot of doctor's signatures look legible. >> doug luzader thank you very much. >>> we have extreme weather striking the south this morning. >> janice dean is following us this morning. she is live. >> a spring lime storm moving through texas, louisiana. this is in towards mississippi where we have another tornado warning south of alexandria seeing strong rotation across doppler radar. this could be rain wrapped so people may not see this coming. this is a dangerous situation. severe threat in and around where we see the tornado watch until noon local time. that will stretch into mississippi throughout the day today. flash flooding also. w
on this bill you have tim geithner's signature because he's the treasury secretary. if lew is the next treasury secretary? it's over one document after another. you can get a pretty close-up look at it. there it is. image that on your dollar bills. that's how it would look like. tim geithner decided to clean it up before he came up with his signature. >> make it look more official. looks like an 8th grade girl's signature. >> makes a lot of doctor's signatures look legible. >>...
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unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shrink the government. three, he is realist, pragmatist. he understands if we don't do something to slow the growth of enlightment spending there won't be room to do all the things investment in infrastructure, all those things that matter a lot to the president and to jack lew himself. i suspect that he will be, spend nearly all his time on budget matters and he has a chance of being a deal-maker here, even though so far he hasn't been very successful in that. melissa: what does it mean in terms of the job the treasury secretary does? that if you are known to embrace, more liberal economic policies what would you expect practically to see him do? >> well, it's not the first time we ha
unlike tim geithner who never worked on capitol hill he has a sense how to get deals done in congress. secondly he comes from the liberal wing of the democratic party. i talked to him when i worked on my book about the budget, red ink, last year. he believes in the power of government. he is not going to be very sympatico with people like paul ryan who believe the whole role of the budget exercise is to shrink the government. three, he is realist, pragmatist. he understands if we don't do...
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Jan 10, 2013
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jack lew will be nominated secretary of the treasury replacing tim geithner. >> the cathedral in washington will host same-sex weddings. it will be among the first of the episcopal churches to allow same-sex weddings. each priest will make the decision. session opened amid controversy. and expressing reservations about the proposed legislation to leverage millions of dollars for school renovations. david collins has more. >> this is delightfully brown water. >> they greeted lawmakers on the return to the state house. they want to put a hold on drilling for natural gas until and unless they state completes a study of risks. legislatures were -- legislators were challenged to take a taste test. the 2013 session did not open quietly. they expressed reservations about the construction aid. it would use the funds to float bonds, to leverage to $0.40 billion for building repairs. >> is done in other states and is legal. it does not hurt the spending affordability of the state of maryland. it does not affect marylanders bond rating at all. the senate president replaced a member of the committee. s
jack lew will be nominated secretary of the treasury replacing tim geithner. >> the cathedral in washington will host same-sex weddings. it will be among the first of the episcopal churches to allow same-sex weddings. each priest will make the decision. session opened amid controversy. and expressing reservations about the proposed legislation to leverage millions of dollars for school renovations. david collins has more. >> this is delightfully brown water. >> they greeted...
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Jan 11, 2013
01/13
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. -- tim geithner. this is 15 minutes. >> ladies and gentlemen, the president of the united states, accompanied by tim geithner and jack lew. >> a little more than four years ago i stood with mr. tim geithner, the first nominee to my cabinet. we were two months into the financial crisis. the stock market had cratered. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. at the bottom was probably not yet in sight. i could not blame tim when he told me he was not the right guy for the job. [laughter] but on news that tim's extensive experience with economic policy made him eminently qualified and i knew he could hit the ground running. as chairman of the federal reserve, he had just spent chaotic weeks emerged in the crisis and had been working with the treasury to save the financial system. then when the wreckage -- with the wreckage of our economy still smoldering, i asked tim to help us put it back together. thanks in large p
. -- tim geithner. this is 15 minutes. >> ladies and gentlemen, the president of the united states, accompanied by tim geithner and jack lew. >> a little more than four years ago i stood with mr. tim geithner, the first nominee to my cabinet. we were two months into the financial crisis. the stock market had cratered. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. at the bottom was probably not yet in...
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Jan 10, 2013
01/13
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tim geithner was a banking man tapped to handle a banking crisis. jack lew is a budget guy being brought in to handle the government's fiscal disaster. on the hill, a handful of republicans oppose lew's confirmation but survived the process twice in four years at omb director and deputy secretary of state. we have jake sherman here. we're hearing yet another white man added to a cabinet with quite a few white men and dwindling number of females s. the president and the team feeling president to add some more diverse faces to the team? >> they released a photo showing that president obama does, in fact, have female advisers in the inner circle and more opportunities yesterday. solis said she was stepping down from the labor department which she ran since the beginning of the administration. transportation is a role that they've been wishy-washy on whether ray la hood would say and more opportunities. susan rice is still around but a pr disaster for the white house. on the front page of "new york times," not something you want to do as trying to get y
tim geithner was a banking man tapped to handle a banking crisis. jack lew is a budget guy being brought in to handle the government's fiscal disaster. on the hill, a handful of republicans oppose lew's confirmation but survived the process twice in four years at omb director and deputy secretary of state. we have jake sherman here. we're hearing yet another white man added to a cabinet with quite a few white men and dwindling number of females s. the president and the team feeling president to...
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Jan 6, 2013
01/13
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tim geithner expected to leave . jack lu is the leading candidate. how would you vote on lu? >> guest: i would have to look at his record and listen to what he has to say. i tell you my view on any treasury secretary would be that i would want to hear real proposals for growth. the whole debate about the fiscal cliff talking about taxes and spending. noticeably absent from the equation is growth and the biggest economic problem of the last four years is dismal economic growth and under barak obama our economy has grown 1.5 percent a year for years and that is less than half the historical adane. >> john: i would like to get into that in a second. do you share the distaste of the jack lu and the way he conducted his self in the diabetic ceiling debate in 20len. a lot of people said he was arrogant. >> guest: i was not there and i have not dealt with the man and so i will keep an open mind. with any treasury secretary nominee, my view will be looking to the substance, and this is not a popularity contest. this is about fixing the problems that are affecting millions of american
tim geithner expected to leave . jack lu is the leading candidate. how would you vote on lu? >> guest: i would have to look at his record and listen to what he has to say. i tell you my view on any treasury secretary would be that i would want to hear real proposals for growth. the whole debate about the fiscal cliff talking about taxes and spending. noticeably absent from the equation is growth and the biggest economic problem of the last four years is dismal economic growth and under...
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Jan 9, 2013
01/13
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this at the time that president obama has picked jack lew to replace tim geithner as treasury secretary. whoever runs the jaret -- the treasury has a critical job. so far, 2013 has been marked by fighting over the fiscal could. but americans say they are looking for solutions, decisions. we have the ceo of accounting giant duch joining me from -- deloit joining me from new york. what would your message be to the new secretary, jack lew? >> my message to jack, as well as what novartis said to the president is to get on to -- what i have already said to the president is to get on with solving the fiscal cliff issue. there are some big deadline's coming up in march between sequestration and the budget resolution as well as the bigger issue around the debt ceiling. and then we need to get to the longer-term issues in terms of where america is going, and that starts with tax reform as well as immigration issues and infrastructure issues. >> i hear the same message from business people across the country. we need more certainty from washington if we're going to kick start growth in this econo
this at the time that president obama has picked jack lew to replace tim geithner as treasury secretary. whoever runs the jaret -- the treasury has a critical job. so far, 2013 has been marked by fighting over the fiscal could. but americans say they are looking for solutions, decisions. we have the ceo of accounting giant duch joining me from -- deloit joining me from new york. what would your message be to the new secretary, jack lew? >> my message to jack, as well as what novartis said...
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Jan 9, 2013
01/13
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CNBC
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. >> role of tim geithner as taeshry secretary is nearing the end. we are learning more about the president's likely pick to replace him. john harwood joining us from washington. john, what can you tell us about jack lew? >> brian, jack lew is currently white house chief of staff. serving in a very low key way in that capacity. he is a long time government servant. former aid to tip o'neill. he has experience at all of the issues coming up before congress. he has experience as hillary clinton's chief of staff. he will leave a void that in replacing rom emmanuel. who is very valuable and controversy. but jack lew is opposite of that. he thinks he las the set of skills he needs among candidates to replace jack lew as chous chief of staff. one source tells me set leading candidate. we will see if that announcement is made tomorrow as is jack lew for treasury. >> if jack lew is secretary treasury, it'll look something like this, whatever that is. accidentally, tim geithner had a different signature but changed it for the green back. ma maybe jack lew wil
. >> role of tim geithner as taeshry secretary is nearing the end. we are learning more about the president's likely pick to replace him. john harwood joining us from washington. john, what can you tell us about jack lew? >> brian, jack lew is currently white house chief of staff. serving in a very low key way in that capacity. he is a long time government servant. former aid to tip o'neill. he has experience at all of the issues coming up before congress. he has experience as...